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The Guardian - UK

Business

Sarah Butler

UK e-commerce firm THG ends investment deal with Japan’s SoftBank

THG SoftBank LookFantastic Zavvi Nick Candy Ingenuity

THG secured $730m of new investment from a division of SoftBank to help fund expansion of its technology platform. Photograph: Timon Schneider/Alamy

The online shopping group THG has ended an agreement under which the Japanese conglomerate SoftBank had agreed to invest in it, blaming “global macroeconomic conditions”.

The company formerly known as The Hut Group, which owns a range of internet health and beauty retailers, secured $730m (£610m) of new investment from a division of SoftBank to help fund expansion of its technology platform a few months before it listed in London.

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